Continental Resources (NYSE: CLR) reported earnings on May 8. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Continental Resources met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.

Gross margins contracted, operating margins grew, net margins grew.

Revenue details
 Continental Resources reported revenue of $772.0 million. The 11 analysts polled by S&P Capital IQ anticipated sales of $772.3 million on the same basis. GAAP reported sales were 26% higher than the prior-year quarter's $564.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $1.17. The 21 earnings estimates compiled by S&P Capital IQ anticipated $1.13 per share. Non-GAAP EPS of $1.17 for Q1 were 54% higher than the prior-year quarter's $0.76 per share. GAAP EPS of $0.76 for Q1 were 100% higher than the prior-year quarter's $0.38 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 79.9%, 230 basis points worse than the prior-year quarter. Operating margin was 38.0%, much better than the prior-year quarter. Net margin was 19.8%, 760 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $823.5 million. On the bottom line, the average EPS estimate is $1.20.

Next year's average estimate for revenue is $3.49 billion. The average EPS estimate is $5.15.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 703 members out of 734 rating the stock outperform, and 31 members rating it underperform. Among 111 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 102 give Continental Resources a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Continental Resources is outperform, with an average price target of $101.52.

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